TfL Reserves (2)

Susan Hall: Please provide tracking data for the position of TfL’s reserves since 1 March 2020.

The Mayor: Transport for London’s (TfL’s) accounting reserves as at 31 March 2020 (and 31 March 2019 for the purposes of comparison) are found in the attached document.
Consolidated financial statements (required for the calculation of the Group’s reserves position) are only calculated on a quarterly basis. TfL is therefore unable to provide details of how these reserves balances have moved since 1 March 2020. An estimated balance for usable reserves was calculated for the purposes of ascertaining TfL’s additional funding requirement resulting from revenue shortfalls as a result of the coronavirus lockdown. This modelling indicated that, in the absence of the £1.6bn Government financing package agreed, TfL expected to be in a deficit usable reserves position of approximately £(2.2)bn at 31 March 2021.

TfL Business Rates

Shaun Bailey: How much money has TFL received from additional business rate retention for all years from 2015/16 to 2019/20?

The Mayor: A table setting out Transport for London’s business rate retention for each year from 2015/16 to 2019/20 is included in the attached document.

TfL Income Streams

Shaun Bailey: For the 2019/20 financial year please provide a breakdown of all TFL income streams and the amount?

The Mayor: Transport for London’s (TfL) income for 2019/20 totalled £9,080m. A breakdown is found in the attached table, which is also published in TfL’s Annual accounts.
N.B. The breakdown above excludes an unrealised gain of £934.2m recognised in relation to unrealised property revaluation gains

Transport Focus Survey (1)

Alison Moore: According to the latest survey data produced by Transport Focus 6 out of 10 think wearing a mask should be required when using public transport - do you agree with the decision that face coverings should be mandatory and how will that be enforced across the Transport network in London?

The Mayor: I have been lobbying to make face coverings mandatory on public transport for some time so I am pleased the Government and TfL have taken action to make that the case on services across London. From 15 June, it became compulsory to a wear a face covering when travelling on public transport in England.
To protect passengers and staff, TfL has supplemented the national regulations by making the wearing of face coverings a condition of carriage for all its transport services, and by issuing an instruction under the TfL byelaws requiring face coverings to be worn in its rail and Underground stations, on their platforms, and at tram stops. Passengers who do not comply with the requirement could be refused travel, prosecuted or fined £100 under the regulations; or prosecuted under the byelaws. Children under 11 and certain other categories of persons are exempt from the requirement to wear face coverings, and in certain circumstances passengers may have a reasonable excuse not to wear one; such as if they have a disability that means that cannot wear one.
TfL is monitoring wearing rates closely and I am pleased to say that levels of compliance have been high in the first days of the scheme. Officers from the Metropolitan Police and British Transport Police, as well as TfL enforcement officers have been helping customers to comply with the new requirement. They are initially explaining to customers how everyone on the network benefits from the widespread use of face coverings and the requirement to wear them. Once TfL is confident customers understand the new requirements, enforcement, which may include being refused entry, being fined or prosecuted, will start. I expect this to be a last resort as Londoners will want to do the right thing and keep themselves and others safe.
Additionally, face coverings should be worn by everyone in taxi and private hire vehicles at all times, unless the exemptions above apply.

TfL Expenditure (1)

Shaun Bailey: For the 2019/20 financial year please provide a breakdown of all TFL expenditure streams and the amount?

The Mayor: Transport for London (TfL) expenditure for 2019/20 totalled £13,514m. A breakdown is found in the attached table, which is also published in TfL’s Annual accounts.
N.B. The breakdown above excludes an unrealised deferred tax expense of £242.5m recognised in relation to unrealised property revaluation gains

TfL Expenditure (2)

Shaun Bailey: Have you commissioned any independent experts to look at how you can cut down on unnecessary expenditure at TFL?

The Mayor: Since 2015/16, it is clear that Transport for London (TfL) has become a significantly more efficient organisation – for example by reducing its annual operating deficit by over £1bn since 2015/16. I have appointed Andy Byford as Commissioner to ensure that TfL continues to be an efficient organisation building on the significant improvements in recent years.
In his funding and financing letter of 14 May to me, the Secretary of State announced that he would be setting up a review into TfL’s future financial position and future financial structure, would consult TfL on the terms of reference, and would provide an opportunity for TfL to contribute to the review. He also announced that the Department would be appointing external advisers. I have not yet seen the terms of reference. I want TfL to work closely and positively with the review and the government advisers.

TfL Expenditure (3)

Shaun Bailey: Please provide a chart showing TFL’s debt and expenditure for each year from 2015/16 to 2019/20?

The Mayor: A table setting out Transport for London’s (TfL) debt and expenditure for each year from 2015/16 to 2019/20 is included in the attached document. This is also published in TfL’s annual accounts.